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7 Mar 2014
GBP/JPY has best week of 2014
FXStreet (Córdoba) - The GBP/JPY finished the week on top of 172.00, more than 250 pips above last Friday’s closing price, posting the highest weekly gain since the beginning of the year.
GBP/JPY reverses and breaks key levels
On Monday, the pair opened lower, with a downside gap, trading below 169.00 at 2-week lows, but managed to recover. On Thursday broke above 171.80 and accelerated to the upside.
After US employment data released on Friday, as the Yen tumbled across the board the GBP/JPY soared to 173.53, hitting the highest price in 6 weeks but then lost upside momentum and retreated pulling back below 173.00. Price is about to end the week around 172.70/80, far from Friday’s highs but consolidating important weekly gains.
GBP/JPY reverses and breaks key levels
On Monday, the pair opened lower, with a downside gap, trading below 169.00 at 2-week lows, but managed to recover. On Thursday broke above 171.80 and accelerated to the upside.
After US employment data released on Friday, as the Yen tumbled across the board the GBP/JPY soared to 173.53, hitting the highest price in 6 weeks but then lost upside momentum and retreated pulling back below 173.00. Price is about to end the week around 172.70/80, far from Friday’s highs but consolidating important weekly gains.